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Andrei [34K]
3 years ago
8

Swifty Corporation records all prepayments in income statement accounts. At April 30, the trial balance shows Supplies Expense $

2,700, Service Revenue $9,400, and zero balances in related balance sheet accounts. Prepare the adjusting entries at April 30 assuming: (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) $800 of supplies on hand and (b)$3,200 of service revenue should be reported as unearned
Business
1 answer:
Lemur [1.5K]3 years ago
6 0

Answer:

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

Dr Unearned Service Revenue 3200

Cr Service Revenue 3200

Explanation:

Preparation of the adjusting entries at April 30

Based on the information given the adjusting entries at April 30 will be :

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

($2,700-$800)

(Being to record supplies on hand)

Dr Unearned Service Revenue 3200

Cr Service Revenue3200

(Being to record Unearned Service Revenue)

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What is the term used to describe the dollar amount of a physical damage claim paid by the policyholder?A. Coinsurance clause.
Reika [66]

Answer:

C. Deductible.

Explanation:

Variable universal life insurance is insurance that provides permanent insurance coverage as whole life does; however the policyholder, not the insurance company, takes on the investment risk.

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Additionally, a group life insurance policy can be defined as a single contract plan that covers a group of people by providing life insurance coverage. An employer may opt for a group life insurance policy which would cover the lives of his or her employees.

Deductible is the term used to describe the dollar amount of a physical damage claim paid by the policyholder.

5 0
3 years ago
In its ads for athletic shoes, Sleek Feet LLC uses a trademark that is similar, but not identical, to the famous, registered mar
gogolik [260]

Answer: It might harm the reputation of Trend Flash Ltd. or distinguishing factor is impaired by using similar trademark by Sleek Feet LLC

Explanation:

According to the question, Sleek Feet LLC is using similar or alike trademark for their product(shoes) as well-established corporation ,Trend Flash already uses in registered form.

Having similar trademark can confuse consumers as they might not able to identify the difference between the trademark. It can end up purchasing wrong brand shoes rather what they actually intend to

This can tamper the reputation of Trend Flash Ltd. as they have well recognized trademark and difference in quality of shoes be a major factor in it.

5 0
3 years ago
The level at which individual is viewed by Society is called​
tatiyna

Answer:

The level at which an individual is viewed by society is called Social Status. ... It is the measure of worth or the position that the 'person holds in society'.

Explanation:

I hope this helps and pls mark me brainliest :)

5 0
3 years ago
Mary’s Flower Boutique needs to ship finished goods from its manufacturing facility to its distribution warehouse. Annual demand
ElenaW [278]

Answer:

average annual transportation inventory for each alternative are 16.4383 , 5.4794,  27.3972

Explanation:

Given data

Annual demand A = 2000 flower

transit time t1 = 3 days

transit time t2 = 1 day

transit time t3 = 5 days

to find out

What is the average annual transportation inventory for each alternative

solution

we will apply here  average annual transportation inventory formula that is

average annual transportation inventory = t × A / 365

put the value t1 , t2 and t3 for annual demand 2000

so

average annual transportation inventory = t × A / 365

average annual transportation inventory = 3 × 2000 / 365 = 16.4383

and

average annual transportation inventory = t × A / 365

average annual transportation inventory = 1 × 2000 / 365 = 5.4794

and

average annual transportation inventory = t × A / 365

average annual transportation inventory = 5 × 2000/ 365 = 27.3972

8 0
3 years ago
Outdoor Expo provides guided fishing tours. The company charges $200 per person but offers a 10% discount to parties of four or
lukranit [14]

Answer:

a. Recording of transactions:

May 7, Accounts Receivable (Dr.) $900

Sales Revenue (Cr.) $900

May 15, Customer service Expense (Dr.) $360

Sales Allowance (Cr.) $360

May 20, Cash (Dr.) $495

Cash Discount (Dr.) $45

Sales Allowance (Dr.) $360

Accounts receivable (Cr.) $900  

Explanation:

b. Net Sales :

Total Quote ($180 * 5 ) = $900

Less : Cash Discount 5% = 45

Less : Sales Allowance 40% = 360

Net Sales = $495

c. Outdoor expo will record sales after deducting the cash discount. This discount is availed by customer as repayment is made within 15 days. The sales allowance is subtracted from the gross sales as the compensation is made from the outdoor expo due to mistake from their guide on tour. The net sales reported in Income statement will be $495.

4 0
3 years ago
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